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I.Recent Development of Korean Commercial Code There have been recent revisions to the Korean Commercial Code(the“KCC”):most notably the two revisions in January and May of 2009.According to the revision of January 2009(Law No.9362), corporate governance related provisions under old Securities Exchange Act moved to Special Application Subchapter of Corporation Part of the KCC(Sec.542-2 to 542-12).This amendment was caused by the Financial Investment Services and Capital Market Act(the“FISCMA”)that became effective on
I.Recent Development of Korean Commercial Code There have been recent revisions to the Korean Commercial Code (the “KCC”): most notably the two revisions in January and May of 2009.According to the revision of January 2009 (Law No. 9362), corporate governance related provisions under the Old Securities Exchange Act moved to Special Application Subchapter of Corporation Part of the KCC (Sec. 542-2 to 542-12). This amendment was caused by the Financial Investment Services and Capital Market Act (the “FISCMA ”) that became effective on